adgas reports surge in income
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Adgas reports surge in income

Arab Today, arab today

Arab Today, arab today Adgas reports surge in income

Abu Dhabi - Arabstoday

Higher prices and production boosted the net income of government-controlled Abu Dhabi Gas Liquefaction Company (Adgas) by nearly 34 per cent in 2011, the company said in its latest monthly bulletin. Net profits by one of the world’s largest gas firms stood at around $1.1 billion (Dhfour billion) last year compared with $850 million (Dh3.11 billion) in 2010, said the report, published in the Arabic language daily Alkhaleej. It said the net earnings soared on the back of a sharp rise in the company’s total sales to Dh21 billion from Dh17 billion, an increase of 23.5 per cent. Adgas, which is not listed on the stock market, rarely publishes financial results and the report did not give reasons for the surge in sales. But analysts attributed it to higher gas prices in 2011 and an increase in Adgas’s output as the company and other hydrocarbon producers in Abu Dhabi are pushing ahead with plans to expand production capacity. Gas prices in the global market have become generally linked to oil prices which leaped by nearly 50 per cent to an average $105 a barrel in 2011. Adgas is one of two key ADNOC-affiliated companies producing gas in Abu Dhabi, which controls more than 200 trillion cubic feet of natural gas and 92 billion barrels of crude oil. The other firm is Gasco.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adgas reports surge in income adgas reports surge in income

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adgas reports surge in income adgas reports surge in income

 



GMT 18:19 2017 Wednesday ,27 December

Royal Air Maroc orders four Boeing Dreamliners

GMT 08:38 2017 Monday ,30 January

Trump's first major test is travel ban uproar

GMT 19:26 2014 Tuesday ,28 October

Bahrain Training Institute organises training course

GMT 13:12 2017 Saturday ,19 August

6 killed, 16 hurt in road mishap near Thatta

GMT 11:00 2017 Friday ,06 October

IMF advises Saudi not to rush reforms, price hikes

GMT 07:44 2017 Thursday ,09 November

China signs $37 billion deal to buy 300 Boeing planes

GMT 07:50 2012 Tuesday ,21 February

ADDC, Lulu Exchange sign deal
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday